Taking of cenvat return.

This query is : Resolved

Anil S Varade (Querist)
Follow

28 February 2013 Please Help..
If SEZ unit supply material to manufacturer(imported raw material) which tax are applicable weather we can availed cenvat on that invoice.
thanks in advance.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

28 February 2013 THEN you WILL BE admissible for DEEMED EXPORT BENEFIT.

supplies to a SEZ unit are exempt from excise duty.
----------------------------------------------------

Under the Cenvat Credit Rules, 2004 (CCR), where the finished goods are exempt from excise duty, the manufacturer is required to either reverse proportionate Cenvat credit availed in respect of inputs and input services used in the manufacture of exempt goods, or pay 6% of the sale turnover of exempt goods. Alternatively, separate accounts can be maintained for goods and services used in the manufacture of excisable and exempt goods respectively, and Cenvat credit can be availed in respect of inputs and input services used in the manufacture of excisable goods only.

However, in case of supplies to SEZ units, export oriented units, etc, the manufacturer is not required to comply with any of the above requirements. In case of such supplies, full Cenvat credit is available on inputs and input services even though excise duty is not leviable on the finished goods. Accordingly, in your case, no reversal of Cenvat credit would be required in case of supplies to SEZ units without payment of excise duty.

REGARDS,

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Mohammad Abdu Fayaz

Sidhartha sankar pillai

Anoop KK

Srikanthan S

Santosh Behera

Subscribe Now

Taking of cenvat return.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

GST CONSULTANCY

Accountant

Senior Executive

GST CONSULTANT